Powell's news conference after holding rates covered the US-Israel war with Iran, inflation, legal attacks, and the Fed's independence
Jerome Powell said he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time”, citing the “unprecedented” legal attacks against the central bank by the Trump administration. “I worry these attacks are battering this institution and putting at risk the things that really matter to the public,” Powell said at a press conference after the Fed announced its decision to keep its benchmark interest rate steady. Powell’s decision...
Central bank keeps interest rates steady at 3.5-3.75 percent amid inflation concerns and global economic strain.
How the US President Donald Trump and Federal Reserve chair Jerome Powell came to blows.
Senate panel approves Trump’s nominee Kevin Warsh to replace Jerome Powell as US Fed chair on party-line vote.
The announcement on Friday is expected to clear the path for the confirmation of his successor, Kevin Warsh.
President Donald Trump had accused Powell of improper cost overruns in renovating the Fed's building.
The US Justice Department has ended its probe into Federal Reserve chair Jerome Powell, clearing a major roadblock to the confirmation of his successor, Kevin Warsh. US Attorney for the District of Columbia Jeannine Pirro said on X on Friday that her office was ending its probe into the Fed’s extensive building renovations because the Fed’s inspector general would scrutinise them instead. The decision ends an investigation, one of several undertaken by the Justice Department into President...
In a Fox Business interview, Trump says he will fire Powell if he does not vacate his board seat when his term ends.
Donald Trump's threat marks the latest escalation in his ongoing spat with Jerome Powell.
US President Donald Trump has said he will fire Jerome Powell if the Federal Reserve chair does not step down “in time”, adding that he will not drop the Justice Department investigation into the central bank leader. “I’ll have to fire him, OK, if he’s not leaving on time. I’ve held back firing him. I’ve wanted to fire him, but I hate to be controversial,” Trump said in an interview with Fox Business. “I want to be uncontroversial. But he will be fired,” he said in the interview taped on...
Judge Boasberg says Trump administration's arguments 'do not come close to convincing Court' of subpoenas' legitimacy.